The Canada–Panama Free Trade Agreement is a free trade agreement between Canada and Panama that went into effect April 1, 2013. It was concluded on August 11, 2009, by Canadian Prime Minister Stephen Harper and Panamanian President Ricardo Martinelli and signed by the two countries' trade ministers on May 14, 2010.[1] It was effective by December 2012, after both countries' parliamentary approval.[1] The agreement eliminates Panamanian tariffs on 90% of goods from Canada. The remaining 10% will be phased out within the next ten years. Canada will remove 99% of its tariffs on goods from Panama, while keeping those on some imports of sugar, poultry, eggs and dairy products.[2] Panama will end its ban on beef from Canada which was initiated after cases of mad cow disease were found in Canada in 2003.[2]
In 2008, bilateral merchandise trade between Canada and Panama totaled $150 million.[3] Trade has increased by 48 percent from 2007.[2] Canada made up $127.9 million of total trade between the two countries, while Panama made up the remaining $21.2 million.[3]
Both countries' parliaments needed to approve the agreement before it could come into force. Some in Canadian opposition parties considered stalling it for their consideration of Panama as a tax haven.[4]
The agreement was negotiated over four meetings. The first negotiation started in October 2009. The negotiations followed two exploratory meetings over a possible agreement.[3]
In 1998, Panama and Canada signed the Foreign Investment Promotion and Protection Agreement (FIPA). This agreement placed rights and obligations on foreign direct investments between the two countries. In 2006, FDI in Panama by Canadian companies was $111 million.[3]
On May 14, 2010, Canada's International Trade Minister Peter Van Loan, along with Panama's Minister of Commerce and Industry, Roberto Henríquez, signed the Canada–Panama Free Trade Agreement (FTA), as well as parallel agreements on labor cooperation and the environment.
On June 11, 2012 a bill to implement the trade, environmental, and labor agreements were introduced in the Canadian parliament as Bill C-24.[5]
^ abcd. Foreign Affairs and International Trade Canada. 2009-08-13. Archived from the original on 2013-12-23. Retrieved 2009-08-16.
^Deslongchamps, Alexandre; Eric Sabo (2008-08-14). "Opposition Lawmakers May Stall Canada-Panama Free Trade Accord". Bloomberg News. Retrieved 2009-08-16.
^. www.parl.gc.ca. Archived from the original on 2016-03-05.
April 11, 2024
canada, panama, free, trade, agreement, free, trade, agreement, between, canada, panama, that, went, into, effect, april, 2013, concluded, august, 2009, canadian, prime, minister, stephen, harper, panamanian, president, ricardo, martinelli, signed, countries, . The Canada Panama Free Trade Agreement is a free trade agreement between Canada and Panama that went into effect April 1 2013 It was concluded on August 11 2009 by Canadian Prime Minister Stephen Harper and Panamanian President Ricardo Martinelli and signed by the two countries trade ministers on May 14 2010 1 It was effective by December 2012 after both countries parliamentary approval 1 The agreement eliminates Panamanian tariffs on 90 of goods from Canada The remaining 10 will be phased out within the next ten years Canada will remove 99 of its tariffs on goods from Panama while keeping those on some imports of sugar poultry eggs and dairy products 2 Panama will end its ban on beef from Canada which was initiated after cases of mad cow disease were found in Canada in 2003 2 In 2008 bilateral merchandise trade between Canada and Panama totaled 150 million 3 Trade has increased by 48 percent from 2007 2 Canada made up 127 9 million of total trade between the two countries while Panama made up the remaining 21 2 million 3 Both countries parliaments needed to approve the agreement before it could come into force Some in Canadian opposition parties considered stalling it for their consideration of Panama as a tax haven 4 The agreement was negotiated over four meetings The first negotiation started in October 2009 The negotiations followed two exploratory meetings over a possible agreement 3 In 1998 Panama and Canada signed the Foreign Investment Promotion and Protection Agreement FIPA This agreement placed rights and obligations on foreign direct investments between the two countries In 2006 FDI in Panama by Canadian companies was 111 million 3 On May 14 2010 Canada s International Trade Minister Peter Van Loan along with Panama s Minister of Commerce and Industry Roberto Henriquez signed the Canada Panama Free Trade Agreement FTA as well as parallel agreements on labor cooperation and the environment On June 11 2012 a bill to implement the trade environmental and labor agreements were introduced in the Canadian parliament as Bill C 24 5 See also editFree trade agreements of Canada Economy of Canada Trans Pacific Partnership Canada s Global Markets Action PlanExternal links editOfficial Statement from Canada s Prime Minister 1 References edit a b Mayeda Andrew 2009 08 11 Canada signs free trade agreement with Panama Canwest News Service Retrieved 2009 08 12 a b c Deslongchamps Alexandre 2009 08 11 Harper Martinelli Sign Canada Panama Free Trade Pact Bloomberg news Retrieved 2009 08 12 a b c d Negotiations toward a Canada Panama Free Trade Agreement Foreign Affairs and International Trade Canada 2009 08 13 Archived from the original on 2013 12 23 Retrieved 2009 08 16 Deslongchamps Alexandre Eric Sabo 2008 08 14 Opposition Lawmakers May Stall Canada Panama Free Trade Accord Bloomberg News Retrieved 2009 08 16 LEGISinfo House Government Bill C 24 41 1 www parl gc ca Archived from the original on 2016 03 05 Retrieved from https en wikipedia org w index php title Canada Panama Free Trade Agreement amp oldid 1129201511, wikipedia, wiki, book, books, library,
